Q4/17 Trading Update Key Performance Indicators

Release Date: 1/12/2018 9:00:09 AM

IRIS Code: 387C4

Q4/17 Trading Update Key Performance Indicators

This trading update provides basic provisional information on the economic environment as well as OMV Petrom Group's key performance indicators for the quarter ended December 31, 2017. TheOMV Petrom Group’s results for Q4/17 will be published on February 21, 2018.The information contained in this trading update may be subject to change and may differ from the final numbers of the quarterly report.

Economic environment

Q4/16

Q1/17

Q2/17

Q3/17

Q4/17

Average Brent price (USD/bbl)

49.33

53.69

49.64

52.08

61.26

Average Urals price (USD/bbl)

47.89

52.21

48.49

51.36

60.77

Average USD/RON FX-rate

4.174

4.246

4.138

3.901

3.923

Average EUR/RON FX-rate

4.507

4.522

4.552

4.581

4.617

Source: Reuters/Platts, NBR

Upstream

Q4/16

Q1/17

Q2/17

Q3/17

Q4/17

Total hydrocarbon production (kboe/d)

170

170

169

166

165

thereof crude oil and NGL production (kboe/d)

78

76

76

74

73

thereof natural gas production (kboe/d)

92

94

93

92

92

Total hydrocarbon sales volume (mn boe)

14.8

14.3

14.6

14.6

14.3

Average realized crude price (USD/bbl)

41.55

45.09

41.59

44.05

52.61

Downstream Oil

Q4/16

Q1/17

Q2/17

Q3/17

Q4/17

Indicator refining margin (USD/bbl)*

7.14

7.58

8.51

8.75

6.16

Refinery utilization rate (%)

96

95

94

93

91

Total refined product sales (mn t)

1.27

1.13

1.28

1.40

1.26

Downstream Gas

Q4/16

Q1/17

Q2/17

Q3/17

Q4/17

Gas sales volumes to third parties (TWh)

12.41

13.75

11.33

9.09

11.13

Net electrical output (TWh)

0.82

0.75

0.16

0.75

1.05

* The actual refining margins realized by OMV Petrom may vary from the indicator refining margin due to different crude slate, product yield and operating conditions

We expect the Upstream Clean Operating Results in Q4/17 to be negatively impacted by around RON 220 mn exploration expenses, largely consisting of write-offs of exploration assets.

In connection with the Collective Labor Agreement negotiations successfully finalized in December 2017, a one-time cost impact of around RON 90 mn is reflected in the Q4/17 result at Group level.

This report may contain forward-looking statements. These statements reflect the Company’s current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as “anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “target”, “may”, “will”, “would”, “could” or “should” or similar terminology. By their nature, forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control that could cause the Company’s actual results and performance to differ materially from any expected future results or performance expressed or implied by any forward-looking statements.

None of the future projections, expectations, estimates or prospects in this report should in particular be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared or the information and statements contained herein are accurate or complete.

As a result of these risks, uncertainties and assumptions, you should in particular not place reliance on these forward-looking statements as a prediction of actual results or otherwise. This report does not purport to contain all information that may be necessary in respect of the Company or its shares and, in any event, each person receiving this report needs to make an independent assessment. The Company undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this report that may occur due to any change in its expectations or to reflect events or circumstances after the date of this report.

Information provided by IRIS, the news platform of the Bucharest Stock Exchange.

______________________

Bucharest Stock Exchange ("BVB") is not responsible for the content of this News item.
Issuers whose financial instruments are traded on markets operated by BVB are required to report in accordance with current legal and regulatory provisions. BVB publishes these Reports as market administrator, appointed by ASF. When, for investors’ information, Reports are published, either signed by different persons, or with conflicting information, legal liability lies fully with the signatories. BVB disclaims any obligation or responsibility towards issuers or third parties, regarding the reality, completeness and accuracy of information provided by them and distributed by BVB.
Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.